eMoney News

In news that shows the growing importance of near field communications (NFC) around the world, banks in Estonia are considering introducing the technology.

According to NFC World, a research project is now taking place to assess the viability of bringing in readers so customers can benefit from contactless payments and ticketing.

The study will be completed in mid-2012, so NFC could be starting to appear within the branches of financial services providers such as Sampo Bank and Swedbank shortly afterwards.

A spokesperson involved said: "Contactless payment systems would help to significantly increase the speed of electronic payments and this in turn would broaden the circle of companies who would be interested in cash-free payments."

Meanwhile, a trial of NFC has also begun in Stockholm at retailers Alpingaraget and Webhallen, with customers eligible for special offers if they use the technology, the same news provider reports.

Microsoft also recently announced the launch of a new electronic reader that can read QR codes and interact with devices that use NFC.